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CNN
Nov 11, 2012 8:00am EST
have implications for talks going forward. athena jones has more now from washington. >> it's time to get back to work. >> reporter: with the election in the rearview mirror, the focus in washington is back on efforts to avoid the economically devastating fiscal cliff. >> if we just go over the cliff and let those policies stay in effect, we're basically going to undo the recovery. metro party really wants to be blamed for that. >> reporter: the cliff amounts to $7 trillion in spending cuts and tax increases over the next decade. the threat of these painful cuts set to begin on january 1st is part of a deal congress and the president made last year to force them to agree on a long-term deficit reduction plan. >> this is a scenario that congress has said if we don't act, we're going to shoot ours. >> reporter: so far that long-term plan hasn't materialized. the biggest chunk of the cliff, the bush tax cuts. they're also a big sticking point. democrats say cuts for families making $250,000 or more must end. >> we're serious about reducing the deficit. we have to combine spending cuts
Search Results 0 to 1 of about 2 (some duplicates have been removed)